Ex-Deutsche Bank Executive Facing Jail in Italy Still Has Clout

On his third anniversary as head of Deutsche Bank AG’s asset and wealth management unit, Michele Faissola held a town hall meeting where staff were asked to wear black baseball caps embroidered with the number 3. Even his new boss, then-Chief Executive Officer John Cryan, donned one.

It was September 2015, and the high-flying banker with an affinity for fast cars and complicated deals was at the pinnacle of power. Or so he thought.

Michele Faissola

Source: Bloomberg

A few weeks later the company announced he would leave, along with several senior executives who had thrived under the previous CEO, Anshu ...